EXODUS FROM MEXICO

Press, Volume LXXIV, Issue 22358, 23 March 1938, Page 11

EXODUS FROM MEXICO

OFFICIALS OF OIL COMPANIES

BRITISH AND AMERICANS THREATENED

FALL OF CURRENCY CRIPPLES BUSINESS

r ITNITSD PRRSS ASSOCIATION —COPYRIGHT.)

(Received March 23. 12.5 a.m.)

MEXICO CITY. March 22.

Fifty-four British subjects and 35 Americans connected with the oil business are rushing out from the lonely isthmus of Telman 1 "spec, in Southern Mexico, because of 'hreats against their lives.

The first aeroplane carrying British refugees has arrived, and three others are on their way. Unlike the American companies, which generally took precautionary measures last week, the British left supervisors and other officials in the fields in expectation of a settlement of the wage difficulties. A shipload of men, women, and children from the British Mexican Eagle refineries at Minatitian and the adjacent oilfield • sailed from Puergo Mexico, having abandoned their household goods and personal effects. Some women from the British fields have arrived at Vera Cruz, where they are under the care of the British Consul. Mexican union officials seized the homes of foreign employees and threatened them with violence unless they departed immediately. It is estimated that 2000 American and British citizens are already on their way out of Mexico. Meanwhile, Mexican business is crippled as a result of fluctuations in the value of the peso. Merchants are trying to restrict sales until they can see the point at which the peso will be devalued.

It was reported later that the peso would be left free for three days to permit it to find its level, after which the Bank of Mexico would probably take steps to support the currency. The peso is quoted at 4.50 to the dollar, compared with the former fixed rate of 3.60.

A queue of 500 persons formed ir front of the Bank of Mexico before opening in order to exchange their bills for silver. Many others followed suit during the day.

ACCUSATION AGAINST COMPANIES

AGENTS DENY ACTIVITY IN

REBELLIONS

(BRITISH OFFTMAI WIRELESS.) RUGBY. March 21. The London financial agents of the Mexican Eagle Oil Company are advised by their managers that the President of Mexico (General Cardenas) in his recent broadcast speech accused the petroleum companies, among other things, of having supplied money, arms, and ammunition for the assistance of a rebellion in Mexico.

The managers of the Eagle' Company declared that the company had never at any time adopted or encouraged such methods. Its sole occupation had been to develop the properties entrusted to it for the maximum benefit of the nation, its employees and shareholders. The British and American diplomatic representatives in Mexico City are continuing to maintain close contact concerning the extent to which the interest of their nationals is affected and the issue is being closely watched in Whitehal.’ and Washington.